I'm converting my 1st gen to 97 beams, and then making brackets to space the caliper out and mounting up Sport Trac 12" rotors. It'll be a slow process because of the weather/cold and because I'm also doing a re-gear to 3.73's on my rear axle. But I've got over $900 in new parts coming in this weekend for the swap, and I've already got the complete 97 beams but still need to tear them down and blast them. I paid $75 for both beams, complete from rotor to rotor, including the radius arms, so at least I got a deal there. lol
I might also do a front coilover conversion this summer using Rick's brackets.
I'll try to make a thread on the conversion in the near future if I can manage to remember to take a bunch of pictures.